Tesoro Upgraded to Outperform
January 25, 2011 at 12:16 PM EST
Buoyed by favorable trends in the refining industry along with the company’s initiatives to improve reliability and reduce operating costs, we have upgraded independent refiner Tesoro Corporation (TSO) to ‘Outperform’ from ‘Neutral’. An uptick in economic activity overseas (mainly in China and India) and prospects for higher fuel demand in the U.S. are likely to [...]